Year-End Car Deals in Hanoi: Are Prices Dropping in 2019?

“It’s December, time to buy a car!” This playful saying among truck drivers resurfaces every year-end. But what’s special about 2019? Are car prices really dropping? This article will answer your questions and offer helpful advice for your purchasing decision.

Analyzing the Year-End Car Market in 2019

The Vietnamese car market witnessed unprecedented activity at the end of 2019. Demand surged, especially leading up to the Lunar New Year.

Factors Influencing Car Prices

• General Market Trends: Vietnam’s economy experienced positive growth in 2019, boosting consumer spending, including car purchases.
• Tax Policies: Reduced import taxes on car parts from ASEAN countries enabled domestic assembly and lower production costs.
• Competition Among Brands: Fierce competition between major players like Hyundai, Toyota, and Kia led to attractive promotions and discounts.

Are Car Prices Really Dropping at the End of 2019?

The answer is YES. Reports indicate a slight decrease in car prices towards the end of 2019 compared to earlier in the year. Many models offered direct discounts or bundled accessories and insurance.